By: Elena Grace Flores
YouTube video by Rappler
The Philippines is Strong Enough to Battle the Covid-19 Crisis
Malacañang previously said that Congress must authorize President Rodrigo Duterte to enter into negotiations with the Marcos family. This is for the return of the Marcos wealth under the Central Bank, Word Bank and IMF certifications equivalent to the gold deposits. It was worth $35 per ounce during the time of former President Ferdinand Marcos but now, the value is at $1,729.25 per ounce.
Gold Reserves as Protection for the Economy
The President said Senator Imee Marcos told him that the late Filipino leader Ferdinand Marcos took the wealth including gold bars to “protect the economy.” He said he accepted this explanation. It was legally obtained. That’s why no cases can hold the Marcoses accountable to it. After all, they still belong to the Philippines. The favorable World Bank loan at almost 0% interest payable in 29 years plus a 10-year grace period prove it all.
The Return of Ferdinand Marcos
Duterte openly supports the Marcos family. He cheers on the late Marcos’ namesake, Ferdinand Marcos, Jr. His vice-presidential bid in 2016 is still under electoral protest. It awaits a decision from the Supreme Court. The Marcos family is known to groom him for the presidency as well. The legal fight against the presumptive Vice President, Leni Robredo could put him in the country’s second-highest office. When it does, it would be easier for the President to pass the torch to him to face the Covid-19 challenge. He is still recovering from the infection at this point. So, he would certainly be immune to the virus when his time to lead the nation comes.